San Francisco - Home to the nation's fastest rising and highest median home prices

Around the country, home prices are starting to stabilize according to the widely tracked and followed S&P/Case-Shiller Home Price Index. The index’s most recent available data showed that nationwide, home prices rose 2.2% from April to May. According to Yahoo! Homes, San Francisco posted the largest gain of the 20 city metro area the index tracks, increasing 3.9% from April to May. Not only are the home prices in San Francisco rising faster than anywhere in the nation, our city by the bay has the highest median home price ($705,000) of the 20 metropolitan statistical areas covered by the index.

This news doesn’t bode well of course for hopeful homebuyers but is probably a welcome update to underwater homeowners and those looking to sell.